China's new yuan loans increase 2.02t yuan in H1

BEIJING -- China's new yuan loans expanded by 2.02 trillion yuan (about $283 billion) in the first six months amid solid monetary policy support for the real economy, showed official data Friday.

China's new yuan-denominated loans totaled 15.73 trillion yuan in the first half of 2023. The majority of the newly-added loans went to key sectors, including manufacturing and infrastructure industries, said data from the People's Bank of China.

At the end of June, the balance of medium and long-term loans in the manufacturing sector surged 40.3 percent year-on-year, 10.7 percentage points higher than the same period last year.

In the meantime, the balance of medium and long-term loans in the infrastructure sector grew by 15.8 percent, picking up 3.3 percentage points from the same period last year.